Nasdaq Helsinki Ltd: Preato Capital AB has become obliged to launch a takeover bid for the shares in Yleiselektroniikka Oyj

Preato Capital AB - Takover bid



Preato Capital AB has become obliged to launch a takeover bid for the shares in
Yleiselektroniikka Oyj 



Yleiselektroniikka Oyj

Inside information

14 June 2019 at 6.35 pm



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN,
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Preato Capital AB ("Preato Capital") has on 14 June 2019 acquired 1,327,224
shares in Yleiselektroniikka Oyj ("Yleiselektroniikka" or the "Company") at the
price of 8.70 euros per share. As a result, Preato Capital's ownership in
Yleiselektroniikka amounts to 51.79 per cent of all shares and votes in the
Company. As a result of the share acquisition, Preato Capital has become
obliged to launch a takeover bid as referred to in Chapter 11, section 19 of
the Finnish Securities Markets Act for all other shares and securities
entitling to shares in Yleiselektroniikka (the "Takover Bid"). 



The cash consideration to be offered in the Takeover Bid will be 8.70 euros per
share. The cash consideration includes a premium of 14.47 per cent compared to
the closing price of Yleiselektroniikka's share as of 13 June 2019 on the
Helsinki Stock Exchange. 



Preato Capital will carry out the mandatory takeover bid in accordance with the
Finnish Securities Markets Act. Preato Capital aims to develop
Yleiselektroniikka and to keep it as a listed company. Preato Capital will
propose to the Company's Board of Directors the convocation of an Extraordinary
General Meeting to decide on changes in the composition of the Company's Board
of Directors in accordance with the new ownership structure. 



In accordance with Chapter 11, section 22 of the Finnish Securities Markets
Act, a mandatory takeover bid shall be made public within one month from the
arising of the obligation to launch a bid, i.e. 15 July 2019, at the latest.
Preato Capital aims to start the takeover bid procedure immediately after the
Finnish Financial Supervisory authority has approved the offer document, on 14
August 2019, at the latest. 



Taaleri Kapitaali Oy acts as Preato Capital's financial adviser and Castrén &
Snellman Attorneys Ltd as its legal adviser in the Takeover Bid. 



In Helsinki, 14 June 2019

Preato Capital AB



Additional information:

Simon Hallqvist, Chairman of the Board, Preato Capital AB

Tel. [phone]



Preato Capital in brief



Preato Capital is a privately owned investment company established in 2004.
Preato Capital invests in majorities in established and profitable small and
medium-sized companies in the Nordic region with a proven business model and
good cash flow. Preato Capital does not have a pre-determined holding period
for its investments and it does not actively seek exits but develops the target
companies actively in the long-term in close cooperation with their management.
Preato Capital has offices in both Helsinki and Stockholm. 



Yleiselektroniikka in brief



Yleiselektroniikka is a Finnish electronics company established in 1969. The
Company is one of Finland's most significant component and production equipment
suppliers for demanding electronics and communications applications.
Yleiselektroniikka employs over 200 people, of whom approximately 50 in
Finland. In addition to Finland, the Company has operations in the Baltic
countries and Russia. In 2018, the Company generated a turnover of 57.2 million
euros. The Company is headquartered in Espoo, where it also has a store and a
product warehouse. Yleiselektroniikka has been listed on the Helsinki Stock
Exchange since 1988. 



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